Covance Announces Pioneering Agreement with Leading Pharmaceutical Company for Worldwide Portfolio-Level Clinical Trial Monit...
August 24 2015 - 04:15PM
Business Wire
Xcellerate® Monitoring sets new standard for
risk-based monitoring of clinical trials
Laboratory Corporation of America® Holdings (LabCorp®) (NYSE:
LH) today announced that Covance Drug Development (Covance) has
received a multi-year award from a leading pharmaceutical company
to use Covance’s Xcellerate® platform as an exclusive central
monitoring solution for their worldwide clinical trials portfolio.
This landmark agreement with a top-tier pharmaceutical company for
Covance’s first-in-kind Software-as-a-Service (SaaS) offering
reflects the company’s unique technology capabilities, and
reinforces its position as an industry innovator and leader in
clinical informatics solutions.
Covance’s Xcellerate Clinical Trial OptimizationTM suite is a
proprietary, technology-enabled solution set, designed and proven
to help biopharmaceutical companies meaningfully reduce the cost,
time, complexity and risk associated with clinical trials. As part
of this platform, which also includes Xcellerate Forecasting &
Site Selection, Xcellerate Trial Management and Xcellerate
Insights, Xcellerate Monitoring helps clients proactively identify
and mitigate clinical trial risks in near real time for a single
study or across an entire portfolio of trials. By leveraging
consistent processes and practices under a single, world-class
technology platform, Xcellerate Monitoring centralizes and
consolidates all clinical trial data, enhances patient safety,
improves trial efficiency and proactively enables clients to
identify and mitigate potential risks.
“This is an exciting opportunity, in collaboration with a
long-standing client, to leverage the unique power of Xcellerate
Monitoring to help our client make more informed decisions, lower
risks and drive faster results across its global clinical trial
portfolio,” said Deborah Keller, CEO of Covance. “As an industry
leader in creating technology-enabled solutions to accelerate drug
development, Covance is committed to building scalable, replicable
platforms such as Xcellerate to help biotechnology and
pharmaceutical companies bring innovative new medicines to
patients.”
Covance is reshaping clinical trials to transform the industry
and improve lives. For more information about Xcellerate Monitoring
and the full Xcellerate technology platform, visit covance.com.
About LabCorp®
Laboratory Corporation of America® Holdings, an S&P 500
company, is the world’s leading healthcare diagnostics company,
providing comprehensive clinical laboratory services through
LabCorp Diagnostics, and end-to-end drug development support
through Covance Drug Development. LabCorp is a pioneer in
commercializing new diagnostic technologies and is improving
people’s health by delivering the combination of world-class
diagnostics, drug development and knowledge services. With combined
revenue pro forma for the acquisition of Covance in excess of $8.5
billion in 2014 and more than 48,000 employees in over 60
countries, LabCorp offers innovative solutions to healthcare
stakeholders. LabCorp clients include physicians, patients and
consumers, biopharmaceutical companies, government agencies,
managed care organizations, hospitals, and clinical labs. To learn
more about Covance Drug Development, visit www.covance.com. To
learn more about LabCorp and LabCorp Diagnostics, visit
www.labcorp.com.
This press release contains forward-looking statements including
with respect to estimated 2015 guidance and the impact of various
factors on operating results. Each of the forward-looking
statements is subject to change based on various important factors,
including without limitation, competitive actions in the
marketplace, adverse actions of governmental and other third-party
payers and the results from the Company’s acquisition of Covance.
Actual results could differ materially from those suggested by
these forward-looking statements. Further information on potential
factors that could affect LabCorp’s operating and financial results
is included in the Company’s Form 10-K for the year ended December
31, 2014, and the Company’s Form 10-Q for the quarter ended June
30, 2015, including in each case under the heading risk factors,
and in the Company’s other filings with the SEC, as well as in the
risk factors included in Covance’s filings with the SEC. The
information in this press release should be read in conjunction
with a review of the Company’s filings with the SEC including the
information in the Company’s Form 10-K for the year ended December
31, 2014, and subsequent Forms 10-Q, under the heading MANAGEMENT’S
DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF
OPERATIONS.
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version on businesswire.com: http://www.businesswire.com/news/home/20150824005105/en/
Laboratory Corporation of America® HoldingsInvestor/Media
Contact:Paul Surdez, 336-436-5076Company Information:
www.labcorp.com
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